A key question as scientists, policymakers, NGOs, startup founders, and investors converge this week for COP28 in Dubai: will the annual U.N. sustainability conference galvanize action around cleantech and boost private capital deployment towards climate initiatives?
Eight years ago, 196 countries from around the globe signed the Paris Agreement and mandated 17 goals oriented around sustainable development. With the 2030 deadline looming large—and the number of venture-backed cleantech deals plummeting over the last six quarters—investment deal values have actually increased 53% quarter-on-quarter from nearly $15B in Q2 2023 to almost $23B in Q3 2023.
Make no mistake about it, citizens and businesses around the globe are demanding action as climate change disrupts everyday life, increases food insecurity, and displaces the most vulnerable populations. Venture capital certainly has a role to play in mobilizing capital, empowering solutions-oriented cleantech founders, and spurring innovation from developed nations to emerging and frontier markets.
